Accounting for Business Decision Making: Measurement and Operational Decisions
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Accounting for Business Decision Making: Measurement and Operational Decisions
This course is part of Fundamentals of Accounting Specialization
Instructor: Gary Hecht, Ph.D.
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What you'll learn
Identify the nature, purpose, and importance of different types of decision-useful accounting information.
Create, organize, and communicate cost information to best suit common operational decisions.
Use accounting information to manage products, control costs, and leverage other drivers of operational success.
Skills you'll gain
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There are 4 modules in this course
Accounting information is the lifeblood of the organization as it facilitates and influences operational and strategic decisions intended to achieve organizational goals. Organizations benefit from three decision-oriented roles of accounting: measurement, control, and communication.
This course provides an introduction to accounting’s measurement role inside of an organization and how accountants communicate information that helps managers and employees make operational decisions. In particular, you will learn how cost information is created and organized to help managers and employees conduct profitability analyses, develop and choose products, make pricing decisions, and make common business decisions. Upon successful completion of this course, you will be able to: • Identify the nature, purpose, and importance of different types of decision-useful accounting information. • Create, organize, and communicate cost information to best suit common operational decisions. • Use accounting information to manage products, control costs, and leverage other drivers of operational success. If you enjoy this business course and are interested in an MBA, consider applying to the iMBA, a flexible, fully-accredited online MBA at an incredibly competitive price offered by the University of Illinois. For more information, please see the Resource page in this course and onlinemba.illinois.edu.
Any organization – no matter how large or small – is extremely complex. It is made up of processes, systems, products, and – perhaps most important – people. Why are people most important? Because they are the ones making decisions, guiding the firm towards success. Wondering what these decisions are and how they’re made? Join in on Module 1! You will also become familiar with the course, your classmates, and our learning environment.
What's included
7 videos5 readings4 assignments1 discussion prompt
7 videos•Total 14 minutes
- 1-1.1. Overview of Business Decisions•3 minutes
- 1-1.2. Application and Extension•3 minutes
- 1-1.3. What We’ve Learned•1 minute
- 1-2.1. Overview of Managerial Accounting•3 minutes
- 1-2.2. Decision-Making Roles of Managerial Accounting•2 minutes
- 1-2.3. Application and Extension•2 minutes
- 1-2.4. What We’ve Learned•1 minute
5 readings•Total 65 minutes
- Syllabus•15 minutes
- About the Discussion Forums•10 minutes
- Updating Your Profile•10 minutes
- Module 1 Overview•10 minutes
- Module 1 Readings•20 minutes
4 assignments•Total 85 minutes
- Orientation Quiz•10 minutes
- Lesson 1-1 Practice Quiz•30 minutes
- Lesson 1-2 Practice Quiz•30 minutes
- Module 1 Conceptual Quiz•15 minutes
1 discussion prompt•Total 60 minutes
- Getting to Know Your Classmates•60 minutes
Every decision – no matter how big or small – comes down to trading off benefits versus costs. Sounds simple, right? Potential benefits are often easy to envision, and even fun to think about. Costs – a bit less fun – but isn’t it just the price you pay? Not quite. As you’ll see in Module 2, nothing is as simple as it seems!
What's included
9 videos2 readings3 assignments
9 videos•Total 40 minutes
- 2-1.1. Defining Costs•3 minutes
- 2-1.2. Application and Extension•2 minutes
- 2-1.3. What We’ve Learned•1 minute
- 2-2.1. Importance of Organizing Cost Information•2 minutes
- 2-2.2. Organizing Costs by Product•9 minutes
- 2-2.3. Further Refinements•8 minutes
- 2-2.4. Organizing Costs by Behavior•8 minutes
- 2-2.5. Application and Extension•7 minutes
- 2-2.6. What We’ve Learned•1 minute
2 readings•Total 40 minutes
- Module 2 Overview•10 minutes
- Module 2 Readings•30 minutes
3 assignments•Total 90 minutes
- Lesson 2-1 Practice Quiz•30 minutes
- Lesson 2-2 Practice Quiz•30 minutes
- Module 2 Conceptual Quiz•30 minutes
Making decisions can be quite daunting. You need to be able to make predictions about the consequences of your actions so that you can make the best decision. Where do you start? Crystal balls are in short supply. So, how about the next best thing? Jump into Module 3 to learn about cost-volume-profit analysis!
What's included
8 videos2 readings4 assignments1 peer review
8 videos•Total 31 minutes
- 3-1.1. Measuring Profitability According to Cost Behavior•5 minutes
- 3-1.2. Defining and Using Cost-Volume-Profit Analysis•5 minutes
- 3-1.3. Application and Extension•6 minutes
- 3-1.4. What We’ve Learned•1 minute
- 3-2.1. Interpreting CVP Analysis•6 minutes
- 3-2.2. Limitations of CVP Analysis•2 minutes
- 3-2.3. Application and Extension•6 minutes
- 3-2.4. What We’ve Learned•1 minute
2 readings•Total 50 minutes
- Module 3 Overview•10 minutes
- Module 3 Readings•40 minutes
4 assignments•Total 120 minutes
- Lesson 3-1 Practice Quiz•30 minutes
- Lesson 3-2 Practice Quiz•30 minutes
- Module 3 Conceptual Quiz•30 minutes
- Module 3 Quantitative Analysis Quiz•30 minutes
1 peer review•Total 120 minutes
- Module 3 Peer Review Assignment •120 minutes
Owners, managers, and employees often run into two obstacles when making decisions: (1) not enough of the information they need, and (2) too much of the information they don’t need. Surprisingly, the second problem is often harder to overcome than the first, especially in today’s information-rich environment. How do accountants help managers solve this problem? Jump into Module 4 to find out!
What's included
10 videos3 readings4 assignments1 peer review1 discussion prompt1 plugin
10 videos•Total 51 minutes
- 4-1.1. Identify Common Operations-Based Decisions•4 minutes
- 4-1.2. Creating and Using Relevant Information•3 minutes
- 4-1.3. Application – Make or Buy?•12 minutes
- 4-1.4. Application – Manage Product Lines•10 minutes
- 4-1.5. What We’ve Learned•1 minute
- 4-2.1. Identify Common Sales Decisions•2 minutes
- 4-2.2. Application – Special Orders•10 minutes
- 4-2.3. Application – Sell Now, or Process Further?•8 minutes
- 4-2.4. What We’ve Learned•1 minute
- Learn on Your Terms•1 minute
3 readings•Total 60 minutes
- Module 4 Overview•10 minutes
- Module 4 Readings•40 minutes
- Congratulations on completing the course!•10 minutes
4 assignments•Total 120 minutes
- Lesson 4-1 Practice Quiz•30 minutes
- Lesson 4-2 Practice Quiz•30 minutes
- Module 4 Conceptual Quiz•30 minutes
- Module 4 Quantitative Analysis Quiz•30 minutes
1 peer review•Total 120 minutes
- Module 4 Peer Review Assignment •120 minutes
1 discussion prompt•Total 15 minutes
- Final Reflections•15 minutes
1 plugin•Total 15 minutes
- End of Course Survey•15 minutes
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Reviewed on Oct 24, 2020
I am learning a lot. The courses are easy to understand.
Reviewed on Jun 26, 2018
This is very useful course to learn Business decision
Reviewed on Dec 15, 2021
The course itself was informative, but the wording of some questions in the quizzes leaves a lot to be desired.
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